The IRS has lowered the threshold for mandatory electronic filing of 1099s and other information returns to 10 returns. The total applies to all returns filed, so the threshold would be reached with, for instance, six 1099-S forms, two 1099-NEC forms, and two W-2s. Once you are at the threshold, ALL of your forms must be e-filed.

Standard's YEP Service will prepare a 1099-S e-filing for your firm that meets all requirements and submit it for you to the IRS. The filings are compiled using a professional tax software product relied on annually by tens of thousands of businesses. Starting in 2024, 1099-NEC processing/e-filing is also available. 

Because YEP works with the data that's already in your Standard Conveyancer, the service is accurate and cost-effective. Preliminary and final reports let you make sure no data is missing, helping you avoid errors and ensuring a timely filing.

At the end of the tax year, Standard generates a report and spreadsheet for you to review the recipient information from your transactions. Once you are finished with any edits, your data is imported into the tax software, which generates its own reports for your review. Upon your authorization after any additional changes, Standard Support compiles your electronic filing and uploads it at the IRS FIRE web site.

You must sign up by the deadline. Year-End Processing services are available clients with a current Support & Maintenance Plan and clear account balance through Q1.

It speeds the process if your data is complete and accurate before it is downloaded to our office. Entering seller TINs and forwarding addresses will help ensure this. Help is available ahead of time if you need it.

Due to the critical nature of the task and the IRS deadlines, you must sign up on time and work with us throughout the process to ensure a timely filing. Current pricing and deadlines are posted in the fall each year.